Debt help!!

The need for Debt help

This year CBA will earn 10,000 times as much in real money terms as it did before bank de-regulation. The banks are pulling in massive profits just as their customers are drowning in debt. Why? Because the banks have been marketing their mortgage loans to borrowers with big asset backing and those borrowers  are now drowning in unaffordable debt as the bankers knew they would. But in the process the banks have often broken the law and the Code of Banking practice as well as fair trading regulations, all of which the recent Royal Commission identified, but did not compensate borrowers for the damage done.

Traditionally we individual Aussies trusted the banks and put up with the way in  which they treated us. That was because there was not much else we could do. To fight a bank in court could cost millions.

GBAC has found that by analysing and researching facts, figures and bank behaviour  it often turns out that the borrowers have been deliberately tricked into loans with impossible terms that the borrower did not read. The banks often banked on that, particularly with busy family business owners and farmers who were more skilled in their own enterprise than borrowing and just trusted the banks to do the right thing. Prior to de-regulation the bank would have done the right thing.

Turbocharged Voter-Power for borrowers

Today mortgage borrowers, in their role as voters have great sway over government because GBAC realised that Parliament controls the bureaucracy which delivers government and  the voters, control who sits in parliament.

GBAC has developed the Votergram Turbocharge system that allows each and every borrower to tell every single member of any or every Parliament, what the bank has done to them, how unreasonable the bank has been and how disastrous bank de-regulation has been when borrowers are literally robbed and financially abused so that banks can earn billions and their executives can earn multi-million dollar salaries.

Many banks faced with the option to sit down and sensibly discuss how best to deal with the debt in a way that treats the borrower fairly or have the matter discussed by the federal parliament, opt to confer with the borrower and GBAC’s negotiators for an outcome that is fair to the borrowers first. They are after all the customers and the most vulnerable party. If the bank does not act fairly the borrower with GBAC’s assistance can Turbocharge the campaign for a fair go, by Votergram for help

Today there is a completely free association of voters all over Australia. It is called the Australian Voters Network or Voters. It has no party politics and exists only to help and educate its members to persuade the parliaments to improve the fairness factor in Australian government policy. The more who join and share their own experiences, the fairer Australia becomes. It fits with the National Anthem doesn’t it? It is a good organisation for borrowers to join because it can help them a great deal when the crunch comes on.

Banks and Big Businesses Monopolies

For a long time the moneylending banks and big business monopolies have controlled government by bribing our elected MPs with election donations and bullying them with highly paid lobbyists. It looks as though the federal parliament is going to reduce that and such a move will again help borrowers in trouble with their bank.

Anyone wanting to learn a little bit more can contact  GBAC which is run by a former Chartered Accountant / CPA who has run family businesses and farms as well, so knows just how hard it can be to clear big bank debts.

Democracy is the best system of government in the world, but only when driven by the voters to fulfil its potential. Government for the people comes from government by the people via their parliament. Borrowers have a great resource in their parliaments and GBAC has developed the tools to help them access it.

Join Voters now and Turbocharge your Voter-Power. Then give GBAC a call and see how they can help you. If bank behaviour has really upset you, you can go to the BankWatch site to record what happened so that it can be taken into account in submissions to government.

Greg Bloomfield

Debt Solutions for a Borrower

“The Winning Borrower” 

“I was phoned one day by an IT executive, just after I had spoken to a farmer whose total crop proceeds had been seized by the bank. The IT expert had a similar problem. His bank account had also been frozen after a large deposit had been made into the account. The bank’s receiver took it all.”

So begins “The Winning Borrower”, the story of how one Sydney Chartered Accountant with a farming and family business background became a “bank loan consultant” and took on the big banks to provide Aussie debt solutions for Aussie farmers and business owners.

Baseball bats to battle bank debt issues

In the process of negotiations, mediations and refinancing, he discovered the disturbing details of how banks lied, cheated and trapped  farmers in debt they could not clear without selling the farms and did the same to business owners who had mortgaged their homes. The author relates how untrustworthy banks have exploited customers in their quest for multi-billion-dollar profits. He takes a metaphorical baseball bat to the bankers, explaining how some of his  clients ended up making more profit out of their loan settlements than out of farming or business.

Royal Commission investigates bank loan problems

The day the Prime Minister announced that there would definitely not be a Royal Commission into the banking industry, the author sent a Votergram to each one of the 225 Federal MPs decrying the decision. Within days the decision was reversed and the Royal Commission announced.

Author makes book free to farmers during March

The Winning Borrower” 85 page e-book by this businessman,4th generation farmer, Chartered Accountant and CPA , who became a bank loan consultant by accident, is available during March as a FREE e-book to help business owners and farmers all over Australia enjoy more profitable and secure lives.

New Year’s Resolution – Farm Succession Planning

Do something about passing on the farm before it is too late.

Here are 5 points on farm succession.

  1. Don’t involve an external lender ( eg bank) in your farm succession plan.
  2. There is nothing clever about handing down debt for your children to deal with.
  3. Add fire, flood, drought, price drop or illness and chances are they will lose the farm.
  4. GBAC ( Greg Bloomfield Agribusiness Consultants) can help your farm transfers without external debt and make both generations happy.
  5. GBAC takes the family friction out of succession plans, satisfies all parties.

Call Greg now to chat on  0428 417 496

Trouble with Transmission Towers

Profits and cashflow affected

Farm or business profits can be suddenly and badly affected when government utility construction staff enter a property. A farm debt or a business debt can do the same if cashflow is badly affected. Gates can be left open, fences or walls knocked down, trading stock or livestock lost and access blocked. GBAC consultants have run their own businesses and farms. They also have an expertise in dealing with government that many others lack. GBAC can be called in to make sure that any transmission construction on or over a business or farm is properly managed to have minimal impact on  finances, particularly  long term loan debt. It can negotiate strongly for serious compensation if damage is done. Enforced transmission lines may have to be accepted, but the wise property owners will ensure that it is at least very profitable.business premises

Don’t waste time with bureaucrats

Individuals often need to make sacrifices for the good of their nation, but when they do they should receive very generous compensation for doing so.

Property owners troubled by transmission lines should not waste time negotiating with bureaucrats or public servants over whom they have no control. Polite persistent political persuasion in the privacy of parliament is the best way to go

Go to those who can say “Yes”, not those who can say “No”

GBAC uses cheap, simple and effective Votergrams to take their concerns directly to every Member of Parliament. MPs are the only segment of government over which most people have any control. In a property owner’s role as a “Voter”, that person gains considerable political power. Voters control political careers. Most MPs are very happy to help voters when approached in the right way.

Chartered Accountant Greg Bloomfield developed Votergrams in his GBAC office before he concentrated on helping Aussies with their mortgage loan and debt issues. To provide strength to those who need community support for more effective political persuasion he also formed the Voters! Network. Transmission towers threaten the peaceful operation of businesses, homes and farms across Australia. That is the sort of issue on which voters need to join forces. When long term mortgages are taken out it is not possible to foresee the future. We have seen millions of dollars damage done by utility construction teams who simply do not know or care that mortgage repayment schedules can be seriously disrupted by intrusive construction teams. GBAC is good at making them care, even long-distance online . shaking hands

Join Voters! and have other voters support you

GBAC knows that bringing in Voters from all over Australia to report problems to Federal MPs helps to  deter harmful practices by construction companies.  Votergrams  can quickly put voters in touch with every state and federal MP in the country. However as negotiating consultants GBAC knows that it is rarely necessary. Once a construction company knows that, it tends to treat property owners properly.

 

Farm Debt – consultants

Do farm debt consultants deliver financial benefits to farmers ?

 

GBAC Farm Debt Consultants’ farm loan clients benefit from Greg Bloomfield’s years as a Chartered  Accountant/ CPA with an emphasis on pastoral companies. They gain too from his experience when he headed the largest NSW Farmers branch, ran sheep at Tullamore and cattle at Braidwood.

 

Many followed his sound farm financial advice in the Hereford Quarterly and rural papers. Farmers were amazed when they won farm debt mediations and huge debt write-offs.

 

Farmers today are freed from overwhelming debt,  with tailored refinance. In the process farmers unexpectedly earned hundreds of thousands, sometimes millions of dollars.

 

At home on a horse or bike, fixing fences or marking calves, having financed his own farms, Greg soon identifies bank loan problems  and bank debt solutions.

farm creek pond

 

Working by phone and fax previously, phone and email now,  GBAC provides farm debt solutions in a way that neither RFCs nor local Accountants can, using unique and persuasive strategies to win a fair go for farmers all over Australia. Receiverships and foreclosures are stopped and prevented.

 

Anyone needing help with a new farm loan or an old farm debt should ring for a chat with Greg any day or evening on 0428 417 496 or 02 9988 3312. Being away from the local town means that what farmers discuss with GBAC remains completely confidential.

 

Borrow Better with your own “broker”

Good Roads affect small businessHow can any small to medium sized business or farmer be properly served by a mortgage loan broker who is  paid substantial commission by a bank and knows little about business or farming?

  • Either the broker serves the bank or they serve the borrower. They can’t serve both because what the bank earns, the borrower pays; what protects the bank makes the borrower vulnerable if loan problems arise.
  • Who do the brokers deal with most, the borrower or the bank? The bank of course on a daily basis.
  • At Borrow Better we do not accept any commission or payment from the bank. We work for borrowers only. As the bank does not pay a broker on loans we help borrowers negotiate, we work to get borrowers a substantial reduction in the loan cost.
  • Borrow Better by having banks compete for your loan business, whether it is a new loan, restructure or refinance.
  • Borrowing is easy. It is the paying it back that is hard. So the most important part of a loan is not the getting of the funds, but the price and promises given to get them.
  • Price of a loan includes:Hay
    Interest rate
    Set-up charge
    Bank fees
    Amount and timing of regular repayments
    Contract terms
    Conditions under which bank can call in the loan to be repaid in full.
    Flexibility if the borrower strikes hard times, gets sick, loses income.
    Ability to repay early or faster.
    Borrower’s ability to meet repayments out of income as only interest will be tax deductible
    How well the borrower gets on with the bankers involved.
    The smiling lender can quickly be replaced by ruthless debt collectors in some loan contracts.
  • Who will gain the most financially from the loan? Make it the borrower!
  • Sometimes borrowers need loan help. At other times help is needed with a defaulting debt
  • If farm debt mediation or business debt mediation arise we can give expert assistance.
  • Even if a bank moves to foreclosure or appointing receivers, we provide appropriate, experienced assistance to borrowers.
  • GBAC consultants are qualified and experienced at running their own businesses and farms.
  • How will that be achieved? BorrowBetter.au consultants will tell you.
  • Call now for a friendly chat 0428 417 498, 0422 907 155, 02 9988 3312

Email greg@gbac.au, pat@gbac.au

Cell grazing farm debts

There is no need to risk losing the family farm by keeping a farm debt that’s not helping you.

Cell grazing works well for your pastures, so why not apply it to your farm debt mortgage management.

Staying with your existing bank through tough times can eat away most of the original goodwill.

Think of bank lenders as cells. Have a good relationship with one and then move on before the relationship sours completely. As it is mostly done on line you don’t have to stay with a local bank.

Borrow Better by checking out fresh lenders to see which offers a farm debt to suit you best.

Over-patronising one bank can damage your farm finances, like overgrazing damages your paddock.

Independent of any bank, GBAC farm debt consultants are not paid commission by the bank like brokers are, to deliver you to them. GBAC is firmly on your side, seeking the farm debt that suits you best.

GBAC combines its own 4th gen. farming experience, accounting, tax and economics qualifications with a passion for fairness towards farmers.

 

 

 

Business Borrowers can Borrow Better

It is one thing to take out a personal mortgage loan to buy a home when the borrower has a secure job with a salary that will provide plenty of funds to cover repayments. However, business owners know that their profits can vary from year to year depending on a variety of factors, not all are under their control. Cashflow can also vary even more frequently in an unstable economy.  It is important that they obtain a loan with the very best interest rates and the most flexible terms to accommodate those variations without the bank disrupting cashflow by unreasonable demands. Banks always give themselves great power in the fine print of their loan contracts.loan application

The Borrow Better facility puts borrowers in charge. That is a big change from working with a bank or a bank-paid broker, where the bank begins and remains in charge of the loan facility. When four or five banks have competed to lend to a business and the business owner after some discussions and analysis of the loan offers, has chosen one, that bank looks after them and the other banks stand ready to pick up the business should that banking relationship sour in the next year or so. It also means that instead of a very substantial brokerage fee being partly paid as an establishment fee and partly  capitalised into the loan repayments, the chosen bank will probably reduce or eliminate the loan establishment fee.

Businesses that have used the Borrow Better facility, have run with the same lender and excellent relationships through good times and bad for decades. That may be because most have engaged  The Borrow Better founders GBAC business loan consultants to ensure that the loan is serviceable by the business and that the business is run on sound profitability principles so that it can always cope with the loan.

Protection Racket looks after Big Bad Banks

Banks knew interest rates would rise. Borrowers did not.

Thousands stand to lose their homes, deposits, repayments, businesses or farms. Banks will patiently wait until they trip up then pounce. Banks collect interest in all those years as they wait.

There are many bank debt solutions for borrowers . If you or someone you know is threatened with foreclosure, or under pressure by the bank, contact us at FairGO  or GBAC for a FREE chat.

Why would Federal Parliament, ASIC provide protection for dishonest banks?

We will not be stopped from helping home buyers by the federal Debt Management Services regulation designed to protect dishonest banks from our forensic investigation into their home loan practices. Maybe it was introduced in 2021 during Covid as a temporary measure but the Federal MPs need to get rid of it now. They did enough damage to customers by deregulating banks in the late 1980’s. Ever since then federal and state taxpayers have been paying to help out borrowers entrapped, lied to , cheated and misled by their deregulated banks.

Banks are earning billions and can afford to stand by customers when  things get tough. They just don’t care!

 

GBAC will not stand by while bank customers suffer.

We will help borrowers out within that cruel law, as we have done for borrowers all over Australia since federal politicians first de-regulated banks in the late 1980’s, allowing them to rip of customers as the  Royal Commission discovered.

That is why GBAC bank debt solutions has just launched “Bankwatch” to run the same sort of Votergram campaign as Roadwatch did when it reduced the road toll by 70%. In those days the road transport industry behaved like the banking industry does now. But the truck drivers joined Roadwatch and reported on their corporate bosses. Now bank customers and staff will be able to discretely report their director and CEOs to every member of federal Parliament

Banks think that their big political donations protect them, but through our GBAC and Votergram services, we have provided Australian voters with more power and influence than voters have in any other democracy in the world. As Normie says “You don’t have to suffer in silence”.

10 ways to Beat the Bank Borrower Blues

Unaffordable debt is a prime cause of business failure, like the “Phoenix” solution talked about in recent media – “Phoenix scams about to go down in flames”. Crooks crooksmay find that winding up one business and starting another works for them, but honest business owners can do a far better job that improves their credit standing and position in the community. Because business owners, particularly those with small to medium sized businesses, are often so busy running the business, they may not control debt properly at the same time. 

1. Take the demand notice seriously. Many borrowers put it aside as an idiotic piece of paper that fantasizes about a huge amount of debt. It should be dealt with immediately.

2. Call on the very best bank borrowing consultant you can, because you may be certain that the bank has already employed the very best of lawyers and the sort of debt collectors who figuratively wield baseball bats with a mean hand, to collect every cent you owe.

 

3. Get out your loan documents and letters and read them carefully with your bank consultant. You will see, perhaps to your surprise, that you have pledged to deliver your children’s hearts on a plate to the bankers if you don’t pay up. If not their hearts certainly their happiness in terms of their home and security.

4. Look inquiringly into what has caused the problem. Over-spending? Over-expansion? Losses? The economy gone bad? Government policy? Cash-flow crisis? Drought or flooding rain? What has caused this situation? Only by finding out can it be readily rectified. Was it purchasing too much property or a sudden rise in interest rates?

5. Look for refinance. That means approaching every other bank lender to see which of them will refinance the loan. It is important to act on this with your banking consultant as soon as demand notices arrive. But don’t apply until the business has been worked over for improvement.

6. It is far better to have looked for re-finance as soon as the loan facility became difficult to manage or payments became overdue. The earlier you decide to seek re-finance the easier it will be to obtain, if you have a half-competent consultant.

7. Prepare a very attractive and appealing bank loan application. Your consultant can do this. It needs 5 or 6 good photos to put new banks in the picture on what you do. Use accurate “management” accounts and only put your tax return at the back. The tax act allows a lot of items to be written off that are not really expenses, including owners’ salaries and capital improvements. Your consultant will reconcile the tax return with management accounts.

8. Take severe cost-cutting measures and work hard to cut costsincrease income in order to increase profits. Reduce capital equipment and stock on hand to provide extra cash. Don’t take little steps in this exercise. Be ruthless! Remove the dead wood and overcome lack of return.

9. Force the business to earn profits you can draw out. Put them into a special “savings” account to make major debt improve efficiencyreductions later. Paying off small amounts as you go does not usually work because the bank will often let you draw them out again.

10. Sell non-essential assets to clear debt. It is surprising how much money can be generated by the serious identification of surplus assets that just lie around and the conversion of them into cash.

“Borrower beware, sign with care.” Greg Bloomfield